Revolutionise your trade compliance
& TBML screening

The financial sector's growing complexity is driven mainly by evolving compliance and trade regulations and trade-based money laundering (TBML) risks, highlighting the critical importance of first-line screening. A leading global bank came to us as they had significant challenges with its first-line screening processes, finding inefficiencies in its workflow and handling of large transaction volumes and high rates of false positives.

The bank successfully overcame these challenges by teaming up with Lloyd's List Intelligence, which revolutionised how it tackled trade compliance and TBML screening. This case study outlines how the bank was able to utilise our advanced screening tools to enhance their workflow efficiency, reduce the instances of false positives, and complied with international regulations.

Lloyd’s List Intelligence provided a comprehensive, fully tailored solution to meet the bank’s specific needs. The introduction of our advanced screening tools allowed the bank to overhaul its compliance processes and improve the accuracy of its TBML screening.

Key improvements included:

• Accelerated document checks: Using advanced screening tools, the bank reduced document review times by up to 25%, speeding up transaction processing.
• Enhanced auditing: Advanced algorithms facilitated more efficient investigations and more accurate compliance reporting.
• Comprehensive risk assessment: The solution offered a full risk assessment across vessels, goods, and counterparties, reducing false positives by up to 50%.
• Real-time regulatory updates: Constant updates allowed the bank to stay on top of evolving regulations, ensuring ongoing compliance.

By implementing these tools, the bank transformed its trade compliance framework, making it faster, more accurate, and more efficient.

After implementing Lloyd's List Intelligence's Seasearcher Risk Suite, the bank saw significant improvements in trade compliance and TBML screening operations. These included:

Key features include:

• 50% reduction in false positives: The bank significantly reduced the number of false positives, allowing its team to focus on genuine risks through accurate decision-making.
• 25% faster document checks: Speedy transaction processing, ensured timely reviews without compromising accuracy.
• Improved compliance: Real-time regulatory updates and comprehensive risk assessments ensured that the bank maintained strict compliance with global regulations.

Seasearcher gives an aggregated view, saving us time and helping us expedite decisions.
Compliance manager / Top 20 global bank

Key benefits revisited

• Accelerated document checks by up to 25%: Reducing time spent on manual reviews 
• 50% reduction in false positives: Enhancing accuracy and lowering manual intervention 
• Comprehensive risk assessment: Covering vessels, goods, and counterparties, providing a full picture of potential risks
• Real-time regulatory updates: Ensuring compliance with the latest rules
• Enhanced audit trail: Providing a clear, auditable record of decisions for investigations and compliance reporting